4,882 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,882 shares of the asset manager's stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Barclays PLC increased its stake in shares of T. Rowe Price Group by 13.6% during the third quarter. Barclays PLC now owns 822,869 shares of the asset manager's stock valued at $89,635,000 after buying an additional 98,448 shares during the period. Assenagon Asset Management S.A. raised its position in shares of T. Rowe Price Group by 1,803.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,533 shares of the asset manager's stock worth $7,977,000 after acquiring an additional 66,828 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $474,000. Hennion & Walsh Asset Management Inc. grew its stake in T. Rowe Price Group by 7.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,007 shares of the asset manager's stock valued at $1,584,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Central Valley Advisors LLC bought a new position in T. Rowe Price Group in the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Barclays boosted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $94.09.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares of the company's stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.9%

Shares of T. Rowe Price Group stock traded down $0.87 on Tuesday, reaching $97.09. 929,212 shares of the stock were exchanged, compared to its average volume of 1,486,325. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.86 and a beta of 1.50. The business has a 50 day moving average price of $90.55 and a two-hundred day moving average price of $105.63.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.23%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.